Canal+ has built up a holding above 35% in MultiChoice, South Africa’s biggest pay-TV group, triggering a mandatory takeover offer.
South African billionaire Patrice Motsepe is in talks with Vivendi SE’s Canal+ to join its multibillion-dollar bid for broadcaster MultiChoice Group, according to people familiar with the matter.
Representatives for both Canal+ and Motsepe’s investment company African Rainbow Capital declined to comment. Discussions are at an early stage and there is no guarantee that an agreement will be reached, said the people. Canal+ is expected to make a formal offer for MultiChoice at R125 a share, valuing the company at about R55 billion , before 8 April 2024 for consideration by the board’s independent members, said the people.Read: SA regulator mandates Canal+ to issue mandatory offer to MultiChoice ADVERTISEMENT CONTINUE READING BELOW Formed in South Africa in 1985 as M-net, MultiChoice expanded across Africa in the early 1990s with packages including live English football matches and local shows.
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